Pulte Group, Inc., through its subsidiaries, engages in homebuilding
and financial services businesses primarily in the United States. The
company's Homebuilding segment is involved in the acquisition and
development of land primarily for residential purposes within the United
States; and the construction of housing on such lands. This segment
offers various home designs, including single-family detached,
townhouses, condominiums, and duplexes under the Pulte Homes, Del Webb,
and Centex names. As of December 31, 2012, this segment had
approximately 670 active communities. Its Financial Services segment
engages in mortgage banking and title operations. This segment arranges
financing through the origination of mortgage loans primarily for
homebuyers; sells such loans and related servicing rights; and provides
title insurance policies as an agent, as well as examination and closing
services to homebuyers.
Please take a look at the 1-year chart of PHM (Pulte Group, Inc.) below with my added notations:
PHM has been holding a very important level of support at $18 (blue)
since the end of February. No matter what the overall stock market has
done over that period of time, the stock has held that level of $18,
which was also a key resistance back in October and November. The stock
approaching $18 again should provide another bounce higher, but if the
overall market continues to sell-off, PHM could finally break that
support.
The Tale of the Tape: PHM has a very good level of
support at $18. A trader could enter a long position at $18 with a stop
placed under the level. If the stock were to break below the support, a
short position would be recommended instead.
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